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Gold/Mining/Energy : Euro Impact on Gold, USD ... -- Ignore unavailable to you. Want to Upgrade?

To: banco$ who wrote (278)	3/27/1999 4:13:00 PM
From: banco$	Read Replies (1) \| Respond to of 289

Italy-tietmeyer-euro Venice: Saturday March 27 ''The current rate of exchange seems to be due to a strengthening of the dollar rather than a weakness of the euro,'' Tietmeyer said on the sidelines of a closed meeting of finance officials and politicians organised by the Aspen Institute. After a strong start in January, the euro has slid steadily against the dollar, falling to a low of $1.0715 on Friday. European Central Bank President Wim Duisenberg warned earlier this month that continued euro weakness would be a cause for concern and urged politicians to lend a hand in stabilising the new currency. Asked whether a recovery in oil prices could bring back fears of inflation, Tietmeyer said, ''We have no special worry about inflation although it's obviously something we have to monitor.'' Benchmark North Sea Brent crude oil prices peaked above $14 a barrel last week after the Organisation of the Petroleum Exporting Countries agreed to cut output. But prices remain depressed in historical terms. Benchmark Brent has averaged $11.30 a barrel so far this year, down from last year's $13.34 which the lowest annual average for 22 years. biz.yahoo.com